[Southsider2k12]

http://www.nwitimes.com/business/investmen...100454880b.html

Joseph S. Pete joseph.pete@nwi.com, (219) 933-3316


MICHIGAN CITY – Horizon Bank reported a record annual profit of $20.5 million, or $1.89 per share, last year.

The Michigan City-based bank grew net income by 18.7 percent in 2015 and non-interest income by 15.7 percent. The bank's commercial loans surpassed $800 million for the first time in its 143-year history.

"I am pleased to announce Horizon Bancorp's 2015 results, a year in which a great deal was accomplished across the company," Chairman and CEO Craig Dwight said.

In 2015, Horizon integrated 15 new branches as part of the Peoples Bancorp acquisition, opened a new office in Carmel, Indiana, and relocated its Greenwood South location to a new and expanded office.

The bank made $6 million in the fourth quarter, or 50 cents per share.